Armenian Exports to Turkey Surge 139 Times: Insights on Imports and Exports

Armenia and Turkey conducted trade worth $324.5 million in 2022, which is 4.4 times more than during the same period in 2021 ($73.5 million). This was reported by the Ministry of Economy in response to a written inquiry from Sputnik Armenia.

The lifting of the import ban on Turkish goods has had a positive impact on both import and export rates.

In this context, exports from the Republic of Armenia to Turkey increased by 139 times in 2022, amounting to $61.2 million, compared to just $0.44 million in 2021. Meanwhile, imports of Turkish products increased by 3.6 times. Last year, Armenia imported $263.3 million worth of Turkish goods, significantly up from $73 million in 2021 (during the embargo period).

The embargo on Turkish products was enacted on January 1, 2021. This had a negative impact on trade between the countries, reducing trade turnover by 68.3% from $231.5 million in 2020 to just $73.5 million in 2021.

During the embargo period in 2021, only the import of raw materials and products intended for processing from Turkey was officially allowed. These included construction materials, knitted and cotton fabrics, and natural leather. However, products with high customs duties were not imported. The Ministry of Economy explained the retention of certain volumes of imports from Turkey as being due to price advantages. Geography also plays a significant role, as importing goods from distant countries can be quite costly.

Regarding Turkish imports in 2022, it was clarified in the response that the most imported items into Armenia included aluminum rods and angles, citrus fruits (both fresh and dried), knitted items (suits, jackets, blazers, dresses, skirts, and similar clothing for men and women), electrical appliances (heaters, space and soil heating devices, household electric heating devices), tiles made of fiberglass or wood and other wooden materials, special-purpose vehicles and trucks, and synthetic threads.

On the other hand, Armenia's primary exports to Turkey comprised gold (including galvanic coverage) and gold powder, tanned leather, cowhide, machinery (such as dishwashers or dryers), packaging machinery for carbonated drinks, precious and semi-precious stones, and equipment for industrial food or beverage preparation.

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